Nigeria Secures Five Upgrades, Set to Exit FATF’s Grey List Nigeria has made significant strides in its fight against money laundering and terrorism financing by securing upgrades on five recommendations set forth by the Financial Action Task Force (FATF). This development moves the nation closer to...

NFIU Set to Tackle Money Laundering with AI As technology continues to evolve, the Nigeria Financial Intelligence Unit (NFIU) is ready to deploy Artificial Intelligence (AI), and other machine learning skills to trace, track and tackle illicit financial flows (IFFs) and other fraudulent activities. Speaking at...

Tinubu Appoints New Boss for NFIU President Bola Tinubu has approved the appointment of Ms. Hafsat Abubakar Bakari to serve as the Director/Chief Executive Officer of the Nigerian Financial Intelligence Unit (NFIU), pending her confirmation by the Senate. Ms. Bakari is a lawyer and financial intelligence...

EFCC To Splash Out N1bn on Local Travels, N413m on Vehicles The Economic and Financial Crimes Commission (EFCC) has planned to spend N1,055,633,61 billion on local travels, analysis of the 2024 budget has shown. The commission also budgeted N113.4m on training for local travels while N389.6m...

Nigeria to Host 40th Plenary of West Africa's Anti-Money Laundering Group The Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) has announced plan to hold its 40th Technical Commission/Plenary and its 27th Ministerial Committee meeting at the State House Conference Centre, Abuja, Nigeria,...

BDCs Record N1trn Turnover, Seek Diaspora Remittances Agency       The Association of Bureaux de Change Operators of Nigeria has said that its annual turnover is now N1tn. The President, ABCON, Alh Aminu Gwadabe, said this during a virtual event with the theme ‘BDCs’ operations: A trillion-naira sub...